Buying a home involves many stages, but the final countdown is the most exciting – and the most critical. Use this simple checklist to smoothly manage the final steps between exchanging contracts and getting your keys, for a stress-free experience, right up to your completion date.
1. Secure your home insurance
Lenders require buildings insurance to be in place before you exchange contracts. You become financially responsible for the property immediately after that step.
Top tip: Arrange building insurance, if it’s not already in place. Send the proof to your solicitor.
2. Sign the final legal documents
Your solicitor will send you the last of the paperwork in the days leading up to completion. This includes the transfer deed, the mortgage deed, and other key documents.
Top tip: Review everything carefully, sign it, and return it quickly. Delays here can easily push back your entire completion date.
3. Prepare your final funds
A few days before completion, your solicitor sends a final statement requesting the remaining balance. This covers your stamp duty, solicitor’s fees, and any remaining deposit money.
Top tip: Ensure this money is ready in the correct bank account for immediate transfer.
4. Set up utilities and services
You’ll want the lights and heating on for your first night in the new home. Get ready to set up all accounts, including electricity, gas, water, and council tax.
Top tip: Call your providers now to schedule start and stop dates for both your old and new addresses.
5. Complete the final walkthrough
If you can, schedule one last visit to the property before you complete. This check ensures your new home is in the agreed condition, and the seller has left all fixtures as expected.
Top tip: If you spot a serious issue, notify your solicitor immediately before the completion fundsFunds, also called ‘tracker funds’, are financial instruments that have been set up to match or ‘track’ the price of a market index. Investing in a fund lets you get exposure to different financial assets like shares and bonds, without having to buy them directly. are sent.